GARBE sells logistics centre in Erding to Nuveen Real Estate

GARBE Industrial Real Estate GmbH has sold a state-of-the-art logistics property in Erding, near Munich, to Nuveen Real Estate, a US-based real estate investment manager.

The property, which was completed in 2022, covers approximately 7,300 square metres and is fully occupied under a long-term lease by a global blue-chip company. It holds a prestigious DGNB Gold certification, reflecting its high environmental standards. Although the sale price remains undisclosed, the transaction adds significant value to Nuveen Real Estate’s European logistics portfolio.

Jan Philipp Daun, Managing Director of GARBE, emphasized the strategic importance of the Munich area as a prime logistics hub in Germany, driven by high levels of industrialization and strong demand for modern logistics facilities. “The availability of new logistics developments is extremely limited, as greenfield land for such projects is nearly exhausted. The growing impact of e-commerce further increases demand, and this property was designed to meet those exact needs,” Daun stated.

Dominik Scheidmann, Director of Portfolio Management, Real Estate, Europe, at Nuveen Real Estate, expressed his satisfaction with the acquisition, citing the property’s strategic location and modern specifications. “In today’s challenging market, securing such a prime asset in the Munich region is a win for our institutional clients. The site, fit-out, and environmental credentials align perfectly with our forward-looking logistics strategy for Europe, strengthening the quality and diversity of our portfolio,” Scheidmann said.

The transaction was supported by several advisors: GARBE Industrial was advised by Taylor Wessing (legal) and HLB Stückmann (tax), while Nuveen Real Estate received counsel from Graf von Westphalen (legal), EY (tax), Orange Recon (technology), and environmental consultants Nova Ambiente and TheGreenBlue.

The acquisition marks a significant step in the expansion of Nuveen’s European logistics platform, enhancing its presence in a key logistics region.